Introduction
Staking Wrapped Bitcoin can be a great option for those who want to hold WBTC but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
- 1
Obtain Wrapped Bitcoin (WBTC) tokens
In order to stake Wrapped Bitcoin, you need to have it. To obtain Wrapped Bitcoin, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Wrapped Bitcoin wallet
Once you have WBTC, you’ll need to choose a Wrapped Bitcoin wallet to store your tokens. Here are some good options.
- 3
Delegate your WBTC
We recommend using a staking pool when staking WBTC. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their WBTC, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
- 4
Start validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the Wrapped Bitcoin network. You’ll be rewarded with WBTC for these validations.
What to be aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest movements
Wrapped Bitcoin (WBTC) is currently priced at $55,550, with a 24-hour trading volume of $307.08M. In the last 24 hours, Wrapped Bitcoin has experienced a decrease to -0.52. The market cap of Wrapped Bitcoin stands at $10.51B, with 153.24K in circulation. For those looking to buy or trade Wrapped Bitcoin, reputable platforms like Uphold, Kraken, Binance, OKX, Coinbase and Bitmart offer avenues to do so securely and efficiently.
- Market cap
- $10.51B
- Volume
- $307.08M
- Circulating supply
- $153.24K
WBTC
BTC
ETH
USDT
USDC